The UK Economy

The impending IPO of the Direct Line Group may be the biggest buzz around London since the Olympics.  In an attempt to gain some insight about what may really happen, I took a stroll over to 221B Baker Street to visit a friend of mine, a certain Mr. Holmes, who has proven rather proficient at […]

The consumer watchdog agency, “Which?”, has announced the launch of a new, major campaign calling for banking reform in the UK.  The campaign, called “Big Change” reveals some startling statistics about the banking industry and promotes a three-pronged solution.  It’s an admirable campaign.  There’s only one problem:  It won’t work.  The Banks will refuse to […]

I tried to get a fatwa levelled against ADVFN CEO Clem Chambers with an early post on my ADVFN blog. That failed. And so I must try to take him to task for his assertion that Ben Bernanke of the Federal Reserve has done us a favour by signing up for QE3, QE4  and QE ad infinitum. He […]

British taxpayer-backed Royal Bank of Scotland (LSE:RBS) unveiled its plan to float its insurance business in compliance with its commitment to the European Commission after the bank was rescued for a £45 billion bailout in 2008, the bank said earlier today. Direct Line Group, Britain’s largest motor, personal, home, and commercial insurance business, is to […]

What is it that the banking industry doesn’t understand?  What is it that Barclays doesn’t understand?  There are days when the news is absolutely befuddling.  This is one of them. What the FSA is Saying to Barclays Just reading the morning headlines about Barclays ought to be confusing to UK banking customers.  “Regulator warns Barclays: […]

British Banks have not lost their way, as some suppose.  They have re-defined their way.  And Martin Wheatley knows it.  The Managing Director of the Financial Services Authority, and future CEO of the newly created Financial Conduct Authority, served notice that commissions paid to bank employees for the selling of financial products and services will […]

The Gold price has raced ahead by $32.30 to $1672.80 an ounce today thanks to the release of the last minutes of the meeting of the Federal Reserve Open Markets Committee (FOMC) that showed QE3 is just inevitable. Like we did not know that already. But this is just the start. Phrases involving genies and […]

“What a tangled web we weave, when first we practice to deceive.” Was there a banking scandal in Sir Walter Scott’s day, or did he foresee one coming?  Whatever, the answer, he sure got it right.  The banking world is a mess.  It seems like Barclays has been in the headlines more often in the […]

As the afterglow of the 2012 London Olympics begins to fade, the UK capital is hoping to take advantage of the recent exposure to radically boost tourism.  Despite rumours that the Olympics turned people off from the idea of visiting London, Culture Secretary Jeremy Hunt claims the long-term tourism trends will be much more telling […]

After 15 years of operating the West Coast Rail Line from London to Scotland, Virgin Rail lost its government contract to FirstGroup (LSE:FGP).  Reports claim FirstGroup offered the Department for Transport £5.5 billion for the 13-year contract, outbidding Virgin Rail by £750 million.  Since the announcement, FirstGroup’s share price has dropped due to speculation that […]